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In support of Hamas and Palestinians, Hezbollah and the Houthis have launched regular attacks on Israel over the past year. The Shiite group emerged out of Israel’s invasion of Lebanon in 1982. In 2006, Hezbollah and Israel fought a war for 34 days, which ended with no clear victor. The Houthis: The Shiite group, bolstered by Iranian weapons and technology, has been fighting Saudi-backed forces for more than a decade in Yemen’s civil war. Hamas: The group emerged in 1987 as an offshoot of the Muslim Brotherhood, a Sunni Islamist group from Egypt.
Persons: , Israel Organizations: US Locations: Israel, Iran, Lebanon, Yemen, Iran’s, Iraq, Syria, Gaza, Saudi, Red, Egypt
Trump has said he would consider new tariffs on imports from the country at rates of 60% or higher. watch nowU.S. allies could become a key target of Trump's "America First" policy that is increasingly grouping European and Asian partners alongside rival China. "We have been treated so badly, mostly by allies ... our allies treat us actually worse than our so-called enemies," Trump said at a rally in Wisconsin earlier this month. Retaliation by other U.S. trade partners — whether that be via reciprocal, retaliatory tariffs, or other non-tariff measures — is a potential consequence of all of this," Marro said. Economist Stephen Roach also told CNBC that Trump's tariffs would hurt America's trade partners while only increasing the costs of goods for American consumers and manufacturers.
Persons: Donald Trump, Brandon Bell, Trump, We're, Nick Marro, William Pesek, CNBC's, Marro, Stephen Weymouth, Stephen Roach, William Reinsch, Scholl Organizations: Johnny Mercer Theatre, Getty, Republican, China, Global Trade, Economist Intelligence, Trump Presidency, Georgetown University, CNBC, Business, Center for Strategic, International Studies Locations: Savannah , Georgia, China, Pennsylvania, Korea, North Carolina, Germany, Georgia, German, American, Wisconsin, Taiwan, U.S, Japan
Stocks ranging from L3Harris to Burlington could benefit from either a Trump or Harris victory this fall, according to Barclays. The analyst highlighted several overweight-rated stocks the firm expects are best-positioned to benefit from either a Trump or Harris election victory. Defense contractor L3Harris Technologies is another Trump election play. The stock, which is up about 9.1% this year, could gain another 15.4%, according to Barclay's price target. Barclays' price target of $327 implies 20.6% potential upside.
Persons: Harris, Terence Malone, Malone, Donald Trump, Kamala Harris, Trump, Gary Gensler, Bitcoin, Bernstein, Centene, bode, homebuilder D.R, Horton Organizations: Trump, Barclays, Bitcoin, Securities, Exchange, Liberty, Wednesday, Defense, L3Harris Technologies, UnitedHealth, Biden, Democratic Party, Affordable, Burlington Locations: L3Harris, Burlington, Nashville, MicroStrategy, U.S, It's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump 2.0 tariffs could put tech 'in the line of fire,' says UBS analystRandy Abrams, head of Taiwan Research at UBS, discusses potential Trump 2.0 tariffs and what they would mean for global trade and tech supply chains.
Persons: Randy Abrams Organizations: Trump, UBS, Taiwan Research Locations: Taiwan
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Cuban has warned that Trump's plan to impose sweeping tariffs on US imports would burden even tiny businesses with expensive, arduous compliance. Related storiesHe was critical of Trump's tariffs on China during his time in the White House and has slammed the Republican candidate's threat of more of the same. "Tariffs are the worst possible incentive for all but a few products," he said, adding that they "almost always" cost consumers more money. Tariff pain and small business woePaul Krugman has been vocally against plans for fresh tariffs if Trump wins in November.
Persons: , Cuban, Elon Musk's, Grok, Trump, He's, Kamala Harris, Paul Krugman, what's, Kevin O'Leary Organizations: Service, Business, Cuban, Trump, Republican, Dallas Mavericks, Yahoo, White, Democratic, Getty Locations: Cuban, China, Wisconsin
Related storiesIn the second phase of the game, soon after the Chinese invasion began, US forces were said to have engaged and stopped the Chinese amphibious assault, though China continued to bombard Taiwan. Daniel Ceng/Anadolu via Getty ImagesThis caught the hedge fund players by surprise: they had assumed EU sanctions were unlikely because of the depth of China-Europe trade, which reached $815 billion annually in 2023. The hedge fund "agreed that any room for avoiding a total divestment from China and the South China Sea was now completely lost, and market re-entry was probably many years away." The hedge fund responded by choosing to invest heavily in semiconductors manufactured in regions not affected by the war. "This would provide potential opportunities for new players to emerge in the Global South, particularly if loans can be collateralized," Knightsbridge noted.
Persons: Finley Grimble, liquidating, KSG, Daniel Ceng, Knightsbridge, Grimble, Michael Peck Organizations: Service, Business, Knightsbridge Strategic, Getty, Treasury, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: British, China, Taiwan, South China, Europe, South America, Japan, South Korea, Australia, Anadolu, South, Ukraine, Africa, East, Southeast Asia, Zimbabwe, Forbes
An icon of ASML is displayed on a smartphone, with an ASML chip visible in the background. The Dutch government on Friday announced it is expanding export restrictions on advanced semiconductor manufacturing equipment, bringing licensing requirements of ASML 's machines under its purview. The changes mean that the Netherlands is effectively taking over from the U.S. on controlling what machines ASML is able to export to other countries. The expanded control comes after the Dutch government last year introduced its first major export restrictions on advanced semiconductor equipment exports. Washington has pressured countries like the Netherlands and others to ramp up export curbs on key chipmaking tools.
Persons: I've, Klever, ASML Organizations: European Union Locations: Netherlands, U.S, China, Washington
The Trump policy that freaks out economists the most
  + stars: | 2024-09-05 | by ( Matt Egan | ) edition.cnn.com   time to read: +9 min
New York CNN —Former President Donald Trump wants to spend trillions of dollars on tax cuts. “It’s enormously protectionist and terrible economic policy,” said Holtz-Eakin, who served as an economic adviser to former President George H.W. The cost of the Trump tax cutsTrump has called for extending his signature 2017 tax cuts, which expire next year if no action is taken by Congress. Trump has argued that extending the tax cuts will boost the economy, create jobs and help families. The Trump campaign has not detailed significant spending cuts or tax hikes to offset these tax cuts.
Persons: Donald Trump, Trump, Goldman Sachs, Kamala Harris, Goldman, , ” David Kelly, Kelly, “ It’s, , ’ Trump, Douglas Holtz, Eakin, Holtz, George H.W, Bush, GOP Sen, John McCain, Mark Zandi, ” Zandi, Karoline Leavitt, they’ll, ” Leavitt, Trump’s, ” Harris, “ Donald Trump, ” Brian Nelson, Harris, Kimberly Clausing, Mary Lovely, ” Trump, Joe Biden, Penn, Penn Wharton, The Trump, CNN’s Katie Lobosco Organizations: New, New York CNN, Asset Management, CNN, America, New York Economic Club, American, GOP, Moody’s, Trump, Peterson Institute for International Economics, Peterson Institute, US Customs, Louis Federal Reserve, Biden, Congress, Princeton University, University of Chicago, Harvard University, US Treasury Department, Penn Wharton Model, Social Security Locations: New York, United States, China, America
Volvo Cars on Thursday scaled back its margin and revenue targets, after announcing it was no longer targeting 100% all-electric vehicle sales by 2030. Volvo Cars shares were 3.2% higher in early afternoon deals following a 10% decline so far this week. Numerous automakers have reported challenges related to the electric vehicle transition, particularly from underwhelming demand. Volvo Cars also announced Thursday that it was extending its partnership with U.S. chip giant Nvidia as it develops features including advanced driving assistance and autonomous driving. In July, the firm reported record quarterly operating profit of 8.2 billion Swedish kronor.
Persons: China's Geely Organizations: Volvo, China's, European Union, Volvo Cars, U.S, Nvidia, EV Locations: Shanghai, China, Swedish, U.S, Gothenburg, Sweden, Europe
Downtown Campo is an hour away from San Diego in California. Downtown Campo has 28 buildingsThe listing for downtown Campo includes three separate parcels totaling about 16 acres. HMBD Real Estate MarketingRay first purchased the property in 2000 when he lived in San Diego. HMBD Real Estate MarketingHernandez echoed that sentiment, saying locals mentioned renovating the local basketball court and a new playground. AdvertisementHernandez said he's had offers from a mix of interested parties, including traditional real estate investors and people pitching unique concepts.
Persons: , Deborah Jean Peck, I've, Peck, Campo, John Ray, Nick Hernandez, " Hernandez, Marketing Ray, He's, Ray, Hernandez, Marketing Hernandez, who's, he's, Tony Hawk Organizations: Service, Campo, Business, Downtown, Campo Baptist Church, Marketing, Cleveland National Forest, Campo Metal, Campo hasn't, downtown Locations: Campo, San Diego, Downtown Campo, California, HMBD, Las Vegas, Coast, Mexico, Canada, downtown Campo
Hezbollah: What weapons does it have? A visual guide
  + stars: | 2024-08-24 | by ( Lou Robinson | ) edition.cnn.com   time to read: +4 min
Though no match for Israel’s military might, Hezbollah’s increasingly sophisticated arsenal has the potential to inflict significant damage on Israel and its allies in the region. As it fought in the trenches of that nearly decade-long war, Hezbollah became seasoned in urban warfare and solidified its alliances with other Iran-backed groups fighting in Syria. Throughout its decades-long conflict with Israel, Hezbollah has been engaged in asymmetric warfare. It has sought to grow its political and military might, while seeking to establish deterrence despite Israel’s military superiority. Because of Hezbollah’s growing power, a possible all-out war between Israel and Lebanon would thrust the Middle East into uncharted waters.
Persons: Yemen’s Houthis, Bashar al, Assad Organizations: CNN, Islamic Locations: Iran, Lebanon, Israel, Yemen, Syria, Gaza, Iraq, Red, Beirut, Islamic Republic
Ricaurte Vásquez Morales is a man obsessed with water. An app on his phone displays the fluctuating level of Lake Gatún, the artificial reservoir that is the centerpiece of the Panama Canal system. Mr. Vásquez Morales is the administrator of the Panama Canal, which is both the economic heart of his isthmus nation and a central artery for global trade. Last year, a drought dropped the lake to critical levels, prompting canal authorities to limit traffic. At the worst point, in December, only 22 ships a day were allowed to pass through the canal, down from the usual 36 to 38.
Persons: Ricaurte Vásquez Morales, , Vásquez Morales Organizations: Atlantic Locations: Gatún, Panama, Asia, East Coast, United, Central American
MANILA, Philippines — The Philippine government said Tuesday that it had filed a diplomatic protest against Beijing after Chinese jets flew dangerously close and fired a volley of flares in the path of a Philippine air force patrol plane over a disputed shoal in the South China Sea. The Southern Theater Command of the Chinese People’s Liberation Army said Saturday that a Philippine air force aircraft “illegally” entered the airspace above the shoal, which China claims, disrupting its combat training activities. The command sent jets and ships to identify, track and drive away the Philippine aircraft, it added. In 2013, China announced a new Air Defense Identification Zone over the East China Sea that covers a chain of disputed islands also claimed by Japan. Washington has repeatedly warned that it is obligated to defend the Philippines, its oldest treaty ally in Asia, if Filipino forces, ships and aircraft come under an armed attack, including in the South China Sea.
Persons: Romeo Brawner Jr, ” Brawner, Teresita Daza, Ferdinand Marcos Jr, , Jay Batongbacal, ” Batongbacal, Thomas Shoal Organizations: Philippine military’s, Scarborough, seaway, ” Department of Foreign Affairs, , China, Southern Theater Command, People’s Liberation Army, Philippine, U.S, Air Defense, East China, Institute for Maritime Affairs, Law, University of the, Washington Locations: MANILA, Philippines, Beijing, Philippine, South China, Manila, China, People’s Republic of China, United States, Australia, Canada, East, Japan, Washington, University of the Philippines, Brunei, Malaysia, Vietnam, Thailand, Scarborough, Asia
"That, of course, requires more capacity, more ships in order to move global trade around the world, and that has created some shortages here in the second quarter and in the third quarter that we're dealing with at the moment," Clerc told CNBC's "Squawk Box Europe." Maersk on Wednesday reported lower year-on-year revenue in the second quarter and across the first half of the year. It also posted second-quarter underlying profit of $623 million, a drop compared to the $1.35 billion reported in the same period last year. Container demand has been more robust than expected but is expected to cool in the coming quarters, Clerc said. Maersk shares were 1.8% lower at 11:33 a.m. in London.
Persons: Vincent Clerc, Clerc, CNBC's Organizations: Maersk Locations: Africa, Good, Europe, U.S, Asia, London
Shipping giant Maersk, considered a barometer for global trade, is not seeing signs of a U.S. recession as freight demand remains robust, the company's chief executive said Wednesday. "We've seen in the last couple of years, actually, [the shipping container] market remaining surprisingly resilient to all the fear of recessions that there has been," Vincent Clerc told CNBC's "Squawk Box Europe" Wednesday, adding that container demand was generally a good indicator of underlying macroeconomic strength. The last week has seen a sudden escalation in worries about a recession in the world's biggest economy, the U.S., following a set of weaker-than-expected jobs data which has divided economists and market participants. U.S. retail trade inventories — a measure of unwanted build — in May were up 5.33% from a year ago at $793.86 billion, according to the most recent release from the U.S. Census Bureau. A report released by leasing platform Container xChange on Wednesday said indicators suggest inventories are higher than demand, meaning a less "prosperous time" in the coming months for container traders, the logistics market and retailers who stockpiled.
Persons: We've, Vincent Clerc, CNBC's, Clerc Organizations: Shipping, Maersk, U.S . Census Locations: U.S
The dissolved calcium carbonate then reacts with the CO2 in the water to form bicarbonate salts, locking the CO2 away. Adkins says that with a full-scale reactor, he aims to capture and store about half of a ship’s CO2 emissions. BAR Technologies/Cargill French company Airseas has developed the Seawing, which it says could help ships cut their carbon emissions by an average of 20%. A British company called Seabound, for example, makes a device that captures between 25% and 95% of a ship’s CO2 emissions. “We think that ships are actually going to be able to compete with underground CO2 storage,” he said.
Persons: it’s, Jess Adkins, , Adkins, ” Adkins, Calcarea, Melissa Gutierrez, Pierre Forin, geochemist Will Berelson, Will Berelson, Airseas, Maxime Horlaville, Norsepower, Daniel Sigman Organizations: CNN — International, International Maritime Organization —, UN, California Institute of Technology, Caltech, University of Southern, USC, British Port Association, Cargill, BAR Technologies, de Bordeaux, Michelin, Norsepower, Anemoi, Technologies, Geophysical Sciences, Princeton University Locations: University of Southern California, Port of Los Angeles, Norway, Nantong, Vancouver, British
It’s even earned the nickname “Instagram Island” because of its perfectly saturated “no filter” splendor. When evening comes, however, the crowds melt away, and some complain the island goes from Times Square to ghost town. Visitor cap coming in 2025Santorini Mayor Nikos Zorzos has proposed a cap on cruise ship passengers, down to 8,000 a day. Cruise ship passengers are valued and much needed, as are those longer-stay visitors coming by boat or plane, but he says the feeling among locals is that something has to give. Currently, nearly two-thirds of cruise tourism in Greece takes place in Piraeus, Santorini and Mykonos, CLIA said.
Persons: CNN —, it’s, It’s, Nikos Zorzos, Kyriakos Mitsotakis, megaphones, Xavier Duvot, Hans Lucas, ” Gianluca Chimenti, , , Christos Stylianides, Maria Deligianni, CLIA, Katie Haslam, Rob, we’d, ” Love Organizations: CNN, Fira, Bloomberg, Getty, CNN Travel, Cruise Lines International Association, Locations: Oia, Europe, Spain, Netherlands, Venice, AFP, Santorini, Greece, Mykonos, Piraeus, Rochdale, England
For the Houthis to engage in that kind of weapons transaction, moreover, “would demonstrate to us a lack of commitment” by the Houthis to peace talks, the official said. Currently, the Houthis “appear to be drifting further away from a commitment to a negotiated peace in Yemen,” the official said. And while the imminent weapons transfer was pulled back, Russia did deploy military personnel to Yemen to help advise the Houthis over a three-day period in late July, the sources said. The Russians carried bags with them, but nothing that appeared large enough to carry weapons or weapons components, the sources said. It is not clear whether the Russian ships were carrying the equipment that Russia had been preparing to transfer to the Houthis before the Kremlin abandoned the plan.
Persons: , Saudi Arabia’s pushback, Vladimir Putin, Biden, Oman — Organizations: CNN, US, Saudi Embassy, Kremlin, US Central Command Locations: Russia, Yemen, United States, Saudi Arabia, Iran, Moscow, Saudi, Russian, Ukraine, Somali, Shabaab, China, Oman
The Threat of More War
  + stars: | 2024-08-01 | by ( Vivian Nereim | ) www.nytimes.com   time to read: +1 min
Yesterday, Iran and Hamas accused Israel of killing Ismail Haniyeh, one of the most senior leaders of Hamas, while he was in Tehran. (Haniyeh was Hamas’s lead negotiator in cease-fire talks to end the Gaza war, which began with the Oct. 7 attacks.) And the groups themselves say they do not want a wider regional war. (Hamas has said it wants a wider war, but it is depleted from nearly 10 months of conflict in Gaza.) That’s why, in the span of a few months, Israeli bombs have hit Lebanon, Syria, Iran and Yemen.
Persons: amity, Israel, Ismail Haniyeh Organizations: United, Diplomats Locations: East, Iran, Saudi Arabia, Tehran, United Arab Emirates, Iranian, Gaza, Yesterday, Beirut, Lebanon, Syria, Yemen, It’s
Standard Chartered (StanChart) on Tuesday announced its largest-ever share buyback worth $1.5 billion and lifted its earnings outlook for this year, betting on strong economic growth in its core Asian markets and plans to rein in costs. StanChart's statutory pre-tax profit for the first half climbed 5% to $3.49 billion, just ahead of a consensus estimate compiled by the bank. Asia-focused global banks including StanChart and rival HSBC have benefited in recent years from higher interest rates and relatively stronger economic growth and wealth generation in the region. But in China, slowing economic growth and the country's property sector crisis have been a concern for Western banks. StanChart has made provisions totaling $1.2 billion for potential bad loans in China's commercial real estate sector so far this year.
Persons: Bill Winters, StanChart, Sadia Ricke Organizations: Chartered, Tuesday, HSBC Locations: Hong Kong, London, Asia, Africa, China
The GOP, under presidential candidate Donald Trump, could seek to extend the 2017 Tax Cuts and Jobs Act. In the abstract, one can argue that tax cuts and deregulation are good for business. However, further unfunded tax cuts would add to the nation's deficits and debt. He has also pushed for raising the corporate tax rate to 28%. Currently, that rate is at 20%, plus a 3.8% net investment income tax for high earners.
Persons: we've, Donald Trump, Trump, Biden, Eisenhower, Kamala Harris, Joe Biden Organizations: GOP, Wall, United, Bureau of Labor Statistics, Observers, White, Trump, Biden, Federal Reserve Locations: Washington ,, United States, U.S, America
Some leading business executives say they don’t know quite what to think of Vice President Kamala Harris. She has been meeting with groups of corporate executives roughly every two months at her residence in Washington, according to two executives who have met with her. When a state dinner was held for President William Ruto of Kenya in May, Ms. Harris spoke with businesspeople about economic topics including access to labor and worker training, one attendee said. And a month earlier, she attended an event at the Colette Club on Fifth Avenue in Midtown Manhattan arranged by Charles Phillips, a business executive and a longtime backer. Before about 30 Black business leaders — a group with which she has tried to build particularly strong relationships — Ms. Harris spoke for roughly 40 minutes, without notes or a teleprompter, on economic topics including job creation, inflation and global trade, and then took questions.
Persons: Kamala Harris, William Ruto of, Harris, Charles Phillips, , , Mr, Phillips, Organizations: Democratic, Club Locations: Washington, William Ruto of Kenya, Midtown Manhattan
In this photo illustration showing a screen, current US President Joe Biden is seen speaking from the Roosevelt Room of the White House in Washington. President Biden and Vice President Harris held a briefing to discuss the incident and express support for Donald Trump. LONDON — European stocks are expected to open higher as global markets react to the news that U.S. President Joe Biden had dropped out of the U.S. presidential race. The U.K.'s FTSE index is seen opening 24 points higher at 8,163, Germany's DAX up 9 points at 18,166, France's CAC 40 up 18 points at 7,538 and Italy's FTSE MIB 21 points higher at 34,338, according to data from IG. Global traders are watching the U.S. political landscape closely after Biden dropped out of the presidential race on Sunday and endorsed Vice President Kamala Harris as the Democratic nominee.
Persons: Joe Biden, Roosevelt, Biden, Harris, Donald Trump, Germany's DAX, Kamala Harris Organizations: White, LONDON, U.S, CAC, IG, Global, Democratic Locations: Washington
It’s a bad time to be a finance billionaire. Republicans on Wall Street, who had been largely coalescing around former President Donald J. Trump’s efforts to return to office, suffered outright repudiation this week with his pick of Senator JD Vance of Ohio as a running mate. Mr. Vance, a harsh critic of corporate interests and a former venture capitalist, solidified a feeling in the world of high finance that the balance of power in the party had suddenly shifted westward to Silicon Valley. In choosing Mr. Vance, Mr. Trump brushed off personal entreaties from some of the Republican Party’s biggest donors. While accepting his nomination on Wednesday at the Republican convention in Milwaukee, he said the party was done “catering to Wall Street.”
Persons: Donald J, JD Vance, Vance, Trump, Marco Rubio, Doug Burgum, Tim Scott of, Organizations: Washington , D.C, Wall, Republican Locations: Washington ,, Ohio, Silicon Valley, Marco Rubio of Florida, North Dakota, Tim Scott of South Carolina, America, Milwaukee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEO of Singapore Business Federation discusses opportunities amid global trade headwindsKok Ping Soon, CEO of the Singapore Business Federation, discusses opportunities for trade-dependent Singapore amid a wave of protectionism worldwide.
Persons: Kok Ping Organizations: Singapore Business Federation Locations: Singapore
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